Скачать или смотреть Two Common Mistakes And Misconceptions About Bankruptcy Answered By California Lawyer Gebelt

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Law Offices of Nicholas Gebelt
15150 Hornell St
Whittier, CA 90604
(562) 777-9159

The above myths are all frequent barriers to Californians choosing bankruptcy when trying to get out from under crushing debt. However, there are several other aspects of bankruptcy that people do not understand well and that frequently cause problems.
One is the idea of transferring assets. It can be tempting to want to transfer assets away, before creditors can get their hands on them. But trying to hide assets or shield them from legitimate claims of creditors is one of the worst thing you can do.
Such a transfer would be called a fraudulent transfer. If you have done such a thing within a year before filing the Chapter 7 petition, you become ineligible for a Chapter 7 discharge. On top of that, the Chapter 7 trustee appointed to the case is empowered to undo those transfers and seize the assets from the recipients. This means that the people or entities to whom you transfer those assets will not be happy as they have to give them back.
Thus it is a dreadful idea to start transferring assets before bankruptcy.
First of all, unless your employer is a creditor at the time of filing, it is very unlikely they ever find out you filed for bankruptcy. However, even if they are, under Section 525 of the bankruptcy code, discriminatory treatment based on bankruptcy is prohibited.
This statute prohibits discriminatory treatment by a governmental entity pertaining to getting loans, getting jobs or retaining jobs. 525(b) does the same for private employers and 525(c) deals with student loans. This means that the law protects you from being fired.
Unfortunately, there is no guarantee that person will not violate the law. And while I have never had a client say they were fired from a job due to a bankruptcy, if they were, we would be able to take action against that employer under employment law.

For More Information About Bankruptcy, Please Visit:
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